Prices rose yet again in May and a key measure of inflation hit new multi-year highs. The price index tracking personal consumption expenditure, or PCE, climbed 3.9% in the year ending May, the Bureau of Economic Analysis reported Friday. It was the highest level since August 2008 and exceeded April's 3.6% level. Similarly, core PCE inflation, which strips out more volatile components like food and energy, stood at 3.4% over the same period -- the highest level since April 1992. Prices for American consumers and producers have been rising for months on the back of the great reopening, supply chain issues and material ... (full story)